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#1 2014-05-11 07:23:33

formby
Member
From: Wiseacre
Posts: 8359

University is an Unwise Investment...

http://www.intelligencesquared.com/events/university-is-an-unwise-investment/


"Dressing, like painting, should have a residual stability, plus punctuation and surprise." - Richard Merkin

Souvent me Souvient

 

#2 2014-05-11 14:38:15

Butters
Member
From: NYC UES
Posts: 73

Re: University is an Unwise Investment...

Very true indeed.  Thus Peter Thiel's Fellowship:  http://www.thielfellowship.org

 

#3 2014-05-11 14:41:16

Butters
Member
From: NYC UES
Posts: 73

Re: University is an Unwise Investment...

Of course, "getting ahead financially" isn't - and wasn't ever - the point of education anyway.  I really feel sorry for the parents who have sacrificed a great deal for very little in return for their child but a very expensive 4-year vacation.  I have a friend from prep school who's father gave him $500k to start a business, which was for him an excellent option.

 

#4 2014-05-11 17:34:16

Worried Man
Member
From: Davebrubeckistan
Posts: 15988

Re: University is an Unwise Investment...

It is unfortunate that a traditional university degree doesn't translate into guaranteed earnings.  I have a few friends in their 30s that are STILL paying off loans from 4 year undergraduate programs, AND they aren't making much money.  But like you say Butters, financial gain isn't the only reason to further your education.  It's like playing music for the sole purpose of becoming a rock star.  There should be intrinsic motivation aside from financial / material gain.  But, at the same time, I'm not criticizing anyone that uses an education as a means to an end of career success and financial stability, or even great wealth.  Good for them.  The best thing for a young person to do in this day in age is come up with an idea for a clever Pear Shaped app, and just sell it.  Don't go to school.  Just create apps that can be sold for a dollar.


"We close our sto' at a reasonable hour because we figure anybody who would want one of our suits has got time to stroll over here in the daytime." - VP of George Muse Clothing, Atlanta, 1955

 

#5 2014-05-12 06:09:20

Butters
Member
From: NYC UES
Posts: 73

Re: University is an Unwise Investment...

Last edited by Butters (2014-05-12 06:15:28)

 

#6 2014-05-12 07:28:31

Worried Man
Member
From: Davebrubeckistan
Posts: 15988

Re: University is an Unwise Investment...

Ok.  I shouldn't have used the term "guarantee."  I agree with what you're saying.  But, take my dad's generation for instance.  He was a boomer, and for him and his peers, an undergraduate degree was an ALMOST guarantee that they would get a decent paying job.  That's not the case anymore.

And the part about the uneducated kids selling widgets was tongue-in-cheek.  I know my sense of humor doesn't often come across online.  Well, or in person for that matter.  smile


"We close our sto' at a reasonable hour because we figure anybody who would want one of our suits has got time to stroll over here in the daytime." - VP of George Muse Clothing, Atlanta, 1955

 

#7 2014-05-12 07:32:48

Butters
Member
From: NYC UES
Posts: 73

Re: University is an Unwise Investment...

haha, smile  well, most of that wasn't directed at you - your post just got me going on a bit of a riff.  lol. 

I think that's true for boomers and even the GI bill peeps just before them, but that was also a HIGHLY unusual historical period, and definitely not the historical norm.

 

#8 2014-05-12 08:24:56

Worried Man
Member
From: Davebrubeckistan
Posts: 15988

Re: University is an Unwise Investment...

^
True.  But I think that's part of why they bought "the lie" so easily.  It worked for them, and so they uphold the idea that it will, or should, work for their children.  Plus you have colleges, universities, and hiring corporations constantly proclaiming the INCREASED importance of having a college education in the modern world.

And I've spoken about the inflation of the degree on here before.  I equate a modern undergraduate degree with what the high school diploma was prior to maybe 15 - 20 - 30 years ago.  I'm also wary of the "degree shops" and accelerated online programs that seemingly pump out degrees in exchange for some money and a little time.  There just doesn't seem to be any rigor in getting a degree at this point.  And job seekers are now met with positions that don't necessitate much more than a high school education now "requiring" a masters degree.  Why should a customer service position in a company "require" applicants to have a 4 year degree?  Or a receptionist at a veterinary hospital?  I know often they're just trying to be selective.  But the model seems to be: stay in school longer, spend more money on school, learn less, and then do less in your field, if you're actually lucky enough to work in your field.  I'd guess if I took a random sample of 10 acquaintances of mine that have college degrees, maybe 5 of them are working in their chosen field of study.  This is why I frequently see a van driving around for a company called "Over-educated Painters".  Haha

Last edited by Worried Man (2014-05-12 08:30:44)


"We close our sto' at a reasonable hour because we figure anybody who would want one of our suits has got time to stroll over here in the daytime." - VP of George Muse Clothing, Atlanta, 1955

 

#9 2014-05-12 08:32:49

Butters
Member
From: NYC UES
Posts: 73

Re: University is an Unwise Investment...

 

#10 2014-05-12 08:40:29

Butters
Member
From: NYC UES
Posts: 73

Re: University is an Unwise Investment...

 

#11 2014-05-12 08:46:18

Worried Man
Member
From: Davebrubeckistan
Posts: 15988

Re: University is an Unwise Investment...

Yes.  An an education or a skill set?  Which, I'd argue critical thinking is a good skill set to have, but what do I know?  Like you say, it's always been a big choice - a vocational path or an educational path.  But it seems more and more the educational path is becoming more an end in itself, unless you plan to be a doctor, lawyer, etc., OR your 4 year degree is in something like engineering.


"We close our sto' at a reasonable hour because we figure anybody who would want one of our suits has got time to stroll over here in the daytime." - VP of George Muse Clothing, Atlanta, 1955

 

#12 2014-05-12 18:11:51

Butters
Member
From: NYC UES
Posts: 73

Re: University is an Unwise Investment...

 

#13 2014-05-12 18:28:22

Worried Man
Member
From: Davebrubeckistan
Posts: 15988

Re: University is an Unwise Investment...

Depressing


"We close our sto' at a reasonable hour because we figure anybody who would want one of our suits has got time to stroll over here in the daytime." - VP of George Muse Clothing, Atlanta, 1955

 

#14 2014-05-12 18:44:55

Butters
Member
From: NYC UES
Posts: 73

Re: University is an Unwise Investment...

My girlfriend just opined:  "they are creating a generation of debt slaves."  A bit over the top but effectively there's some truth in it; and, as you say, sad.

 

#15 2014-05-12 18:58:11

Worried Man
Member
From: Davebrubeckistan
Posts: 15988

Re: University is an Unwise Investment...

Yes.  Sad indeed.  And what's the foreseeable solution?  A meteor slamming into earth and acting as a reset button?  Nuclear war?  I'm trying to be optimistic here.


"We close our sto' at a reasonable hour because we figure anybody who would want one of our suits has got time to stroll over here in the daytime." - VP of George Muse Clothing, Atlanta, 1955

 

#16 2014-05-13 06:48:32

woofboxer
Devil's Ivy Advocate
From: The Lost County of Middlesex
Posts: 7959

Re: University is an Unwise Investment...

My friend works at a Mercedes dealership, they have three charming young ladies there who are receptionists. They greet customers, answer the phone and determine whether people want to buy a car or get their car fixed, then point them towards someone who can help them. They get to wear a nice uniform and meet a reasonable class of people, or at least people with money (as the two do not always go together). and they earn slightly more than they would working in a supermarket.

All three of these girls have got degrees, a couple of them quite reasonable sounding ones.


'I'm not that keen on the Average Look .......ever'. 
John Simons

Achievements: banned from the Ivy Style FB Group

 

#17 2014-05-13 08:35:17

4F Hepcat
THE Cat
Posts: 14333

Re: University is an Unwise Investment...


Vibe-Rations in Spectra-Sonic-Sound

 

#18 2014-05-13 09:23:07

Worried Man
Member
From: Davebrubeckistan
Posts: 15988

Re: University is an Unwise Investment...

I think he's just speaking on the difference between a vocational or technical program, which teaches you very specific skills to perform a very specific task, like welding or being an air conditioning repair man.  Yes, you are getting an education, but it's specifically to gain SKILLS to teach you a certain TASK.  On the other hand, a regular undergraduate program, take a degree in say history or economics, is only imparting knowledge.  You can learn the required knowledge, but you're not learning any particular skill set.  I guess a simple distinction would be with one you learn a trade, with the other you just learn.  Say the difference between a person attending culinary school and a person getting a bachelor's degree in art history.  Or someone studying to be a dental hygienist and a person studying political science.  Of course they are both an education.  But I'd argue a good undergraduate university degree program should develop the ability to manage tasks and workload and critical thinking skills. 

And I guess another difference is that, taking plenty of people I know as examples, those that proceeded down vocational / technical paths were more likely to actually get a job in their chosen field, whereas plenty of people I know with undergraduate degrees from universities - history, sociology, biology, economics, poli. sci., etc. - are less likely to be currently working in that field.  Seems that's even more the case for those that attended strong liberal arts colleges.  But I think a few of those would argue that they feel they actually received a better education.

Last edited by Worried Man (2014-05-13 09:28:13)


"We close our sto' at a reasonable hour because we figure anybody who would want one of our suits has got time to stroll over here in the daytime." - VP of George Muse Clothing, Atlanta, 1955

 

#19 2014-05-13 10:11:48

Worried Man
Member
From: Davebrubeckistan
Posts: 15988

Re: University is an Unwise Investment...

Maybe another good distinction is that one is technology based, the other is knowledge based.


"We close our sto' at a reasonable hour because we figure anybody who would want one of our suits has got time to stroll over here in the daytime." - VP of George Muse Clothing, Atlanta, 1955

 

#20 2014-05-13 12:05:07

formby
Member
From: Wiseacre
Posts: 8359

Re: University is an Unwise Investment...

Last edited by formby (2014-05-13 12:14:33)


"Dressing, like painting, should have a residual stability, plus punctuation and surprise." - Richard Merkin

Souvent me Souvient

 

#21 2014-05-13 12:06:10

formby
Member
From: Wiseacre
Posts: 8359

Re: University is an Unwise Investment...


"Dressing, like painting, should have a residual stability, plus punctuation and surprise." - Richard Merkin

Souvent me Souvient

 

#22 2014-05-13 12:17:56

Worried Man
Member
From: Davebrubeckistan
Posts: 15988

Re: University is an Unwise Investment...

Last edited by Worried Man (2014-05-13 12:24:06)


"We close our sto' at a reasonable hour because we figure anybody who would want one of our suits has got time to stroll over here in the daytime." - VP of George Muse Clothing, Atlanta, 1955

 

#23 2014-05-13 12:57:36

Worried Man
Member
From: Davebrubeckistan
Posts: 15988

Re: University is an Unwise Investment...

An engineering degree, by default, seems to translate into a practical application of one's education.  Most of the people I know that went to school for engineering, are in fact, engineers.  I know one guy with an electrical engineering degree that works a menial job in a bookstore, but at least it's an engineering bookstore.  And he builds guitar amps for a hobby.  So he is at least applying his knowledge and skills.  I know plenty of people that went to school for a B.A or B.S. degree, and probably haven't thought one iota about their field of study since the day they graduated.

Last edited by Worried Man (2014-05-14 21:26:26)


"We close our sto' at a reasonable hour because we figure anybody who would want one of our suits has got time to stroll over here in the daytime." - VP of George Muse Clothing, Atlanta, 1955

 

#24 2014-05-13 14:11:49

formby
Member
From: Wiseacre
Posts: 8359

Re: University is an Unwise Investment...


"Dressing, like painting, should have a residual stability, plus punctuation and surprise." - Richard Merkin

Souvent me Souvient

 

#25 2014-05-13 14:53:59

Worried Man
Member
From: Davebrubeckistan
Posts: 15988

Re: University is an Unwise Investment...

Dear old dad was an engineer.  He often encouraged me to follow suit.


"We close our sto' at a reasonable hour because we figure anybody who would want one of our suits has got time to stroll over here in the daytime." - VP of George Muse Clothing, Atlanta, 1955

 

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